It was reported last December that both players wanted to be paid the same as the Premier League’s top earners, and neither of the pair are yet to sign new deals, meaning they can walk away for free at the end of the season.

Answering questions at the Arsenal’s annual general meeting on Thursday, Gazidis said: “You don’t always have a choice of where you sell a player, nor do you have control of whether a player extends with you or what demands his agent makes.

“The decision on Alexis and Mesut Ozil are certainly not decisions that fit the narrative that we put money first. We have taken that approach to give the club the best possible chance to compete for trophies this season.”